dads hard earned cash

footballfanatic

Hi there my dad recently gifted myself and my sisters a sum of 20,000 pounds each and told us to invest it wisely.As i want to do rite by my dad and not to take any high risks with his money can anyone give me any advice as to were to invest it.?Am thinking of a 5 to 10 year plan.

McKneff

How old is your dad, unfortunately the government says we cant give our money away.......without financial implications for him.

robatwork

You could put it into your pension (you have one?) to ensure you can't get to it for many years....am assuming you're quite young.

You can wrap £15,000 into an ISA - go for something like a cheap tracker fund, vantage or blackrock perhaps. Don't touch it for 10 years.

xylophone

How old is your dad, unfortunately the government says we cant give our money away.......without financial implications for him.

http://www.hmrc.gov.uk/inheritancetax/pass-money-property/exempt-gifts.htm if relevant to your father's circumstances.

If your father should need any kind of public support, what is termed "deprivation of capital" might be a consideration.

That aside, you need to decide whether you wish to keep the gift in cash deposits of one kind or another, add to your pension, invest in the stock market or a combination of all three.

https://forums.moneysavingexpert.com/discussion/5020279